Vertex (NASDAQ:VERX) Hits New 12-Month Low – What’s Next?

Shares of Vertex, Inc. (NASDAQ:VERX) hit a new 52-week low on Wednesday . The stock traded as low as $12.52 and last traded at $12.9550, with a volume of 1579759 shares trading hands. The stock had previously closed at $14.88.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on VERX shares. Citigroup cut shares of Vertex from a “market outperform” rating to a “hold” rating in a research report on Tuesday, November 4th. Piper Sandler lowered shares of Vertex from an “overweight” rating to a “neutral” rating and cut their target price for the company from $32.00 to $20.00 in a research note on Monday, February 2nd. Jefferies Financial Group set a $28.00 price target on shares of Vertex in a research report on Monday, November 3rd. Stifel Nicolaus decreased their target price on Vertex from $28.00 to $23.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th. Finally, The Goldman Sachs Group set a $25.00 target price on Vertex in a research report on Wednesday, January 14th. Eleven equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Vertex has an average rating of “Moderate Buy” and an average target price of $31.60.

Vertex Stock Performance

The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of -36.68, a PEG ratio of 2.34 and a beta of 0.59. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s fifty day moving average is $19.16 and its 200 day moving average is $22.58.

Vertex (NASDAQ:VERX) last issued its earnings results on Wednesday, February 11th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Vertex had a negative net margin of 7.32% and a positive return on equity of 26.84%. The company had revenue of $194.71 million during the quarter, compared to analyst estimates of $194.33 million. During the same quarter last year, the business posted $0.15 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts predict that Vertex, Inc. will post 0.38 EPS for the current fiscal year.

Vertex announced that its board has initiated a share repurchase plan on Monday, November 3rd that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of VERX. Global Retirement Partners LLC purchased a new stake in shares of Vertex during the 4th quarter worth about $32,000. Raymond James Financial Inc. acquired a new position in Vertex in the second quarter worth approximately $54,000. Blue Trust Inc. increased its holdings in Vertex by 44.4% in the second quarter. Blue Trust Inc. now owns 1,664 shares of the company’s stock worth $59,000 after buying an additional 512 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Vertex by 25.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,933 shares of the company’s stock valued at $68,000 after purchasing an additional 395 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of Vertex by 49.1% in the fourth quarter. Assetmark Inc. now owns 4,180 shares of the company’s stock worth $83,000 after buying an additional 1,376 shares during the last quarter. 70.32% of the stock is owned by institutional investors and hedge funds.

About Vertex

Vertex Energy, Inc (NASDAQ: VERX) is a specialty refiner and marketer of transportation fuels and petrochemical feedstocks in the United States. The company collects and processes a variety of waste petroleum products, including used motor oil and industrial lubricants, which it converts into ultra-low-sulfur diesel, asphalt, and other refined products. By leveraging proprietary re-refining technologies and strategic feedstock sourcing, Vertex Energy aims to deliver cost-effective, lower-carbon fuel solutions to wholesale and retail customers across the country.

Headquartered in Houston, Texas, Vertex operates a network of refining and blending facilities in key regions, including the Central, Northeast and Mid-Atlantic markets.